PULSE Launches New Surcharge-Free ATM Network

“In today’s economic environment, consumers are looking for ways to cut costs, while maintaining convenient access to their money,” said Judith McGuire, PULSE senior vice president, product management. “In response, the PULSE Select/MoneyPass network provides financial institutions with an economical solution, while driving customer loyalty and creating a competitive advantage to help participants attract new cardholders.”

The PULSE Select/MoneyPass network enables PULSE participants to provide their cardholders with increased access to surcharge-free ATMs at banks, credit unions, grocery stores, convenience stores, restaurants and other convenient locations in all 50 states.

Debit cardholders who use an ATM not owned or operated by their financial institution typically are charged a surcharge fee ranging from $1.50 to $3.00 per transaction. Financial institutions participating in the PULSE Select/MoneyPass network not only provide a desired service to cardholders, but also may be able to reduce expenses associated with providing rebates of surcharge fees.

“This is an excellent opportunity for MoneyPass to come together with one of the country’s leading ATM/debit networks,” said Douglas Miraglia, president of MoneyPass, which serves more than 1,000 financial institutions and 30 million cardholders. “This strategic alliance with PULSE enables MoneyPass to continue to expand our network across the country, providing convenient ATM access to cardholders everywhere.”

Financial institutions participating in the PULSE Select Program will add their ATMs to the MoneyPass Network.

“The PULSE Select/MoneyPass network will allow PULSE financial institution participants to remain competitive without the cost of adding new ATM locations, and will help retain and attract new cardholders by providing additional convenience where they live, work and travel,” McGuire added.